dunzo: Reliance Retail acquires 26% in Dunzo for $200 million

0
58
BENGALURU: Dunzo, which pioneered in India the concept of delivering almost anything to anyone within a city, has raised $240 million in a funding round led by Reliance Retail Ventures. On its own, Reliance Retail has invested $200 million for a 25.8% stake in the Bengaluru venture. Existing investors Lightbox, Lightrock, 3L Capital, and Alteria Capital also participated in the round.
Dunzo will use the funds to strengthen its position in the quick commerce (Q-comm) business, enabling instant delivery of essentials from a network of micro warehouses, and to expand its B2B business vertical that provides logistics for local merchants in Indian cities. Under the partnership with Reliance Retail, Dunzo will provide hyperlocal logistics for the retail stores operated by Reliance, and facilitate last-mile deliveries for JioMart’s merchant network.
Reliance Retail Ventures director Isha…

Source link

Advertisement